Some economists refer to a monopsony as a
A)factor price taker.
B)factor buyer.
C)buyer's monopoly.
D)single-price monopolist.

Name: Some economists refer to a monopsony as a A)factor price taker. B)factor buyer. C)buyer's monopoly. D)single-price monopolist.
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Question

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A monopsony is a market situation where there is only one buyer, similar to a monopoly where there is only one seller. Hence, it is often referred to as a "buyer's monopoly."

Some Economists Refer to a Monopsony as a